World News
Crude Futures Soft After Early Gains
by Mohammed Marzuq, 
Monday November 9, 2015
Crude prices were firm in early morning trading coupled with last weeks data showing 6 more U.S. rigs had gone offline.
Despite the upwards spike crude prices succumbed to the inevitable and reversed all early morning gains supported by soft stocks and data implying there will be a nearly 2 million barrel build this week in U.S. inventories.
NYMEX front month contracts settled down at $43.87 after witnessing highs above $45.10 per barrel.
Brent contracts for December delivery settled down at $47.19 after seeing a intra day high of $48.41 per barrel.
The crude market has seen heavy volatility these past few weeks and we expect DOE data to play a pivotal role in which way the market will head in the coming days.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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